To describe the characteristics of a mortgage requested by the applicant(s)
Monetary amount
LRQ01 is the principal amount requested.
Percentage expressed as a decimal
LRQ02 is the loan requested interest rate percent.
Code qualifying how to extend charges or interpret value
LRQ03 is the period type for payment frequency.
Monetary amount
LRQ04 is the initial periodic principal and interest payment.
Code identifying type of residence
LRQ05 defines intended property use.
Code indicating the type of contact
LRQ06 defines the method of conduct of the interview.
Code indicating a Yes or No condition or response
LRQ07 defines if the loan is an assumption of an existing loan. A "Y" indicates it is an assumption; an "N" indicates it is not.
If LRQ07 is "Y - Yes", then LRQ08 is required.
Code indicating the terms for loan assumption
Code identifying the reason the loan is needed
LRQ09 defines the loan purpose.
If LRQ09 is "05 - Refinance," then LRQ12 is required.
If LRQ09 is "15 - Other Loan Purpose," then LRQ20 is required.
If LRQ09 is "05" - Refinance and LRQ10 is "14" - Other Purpose of Refinance, then LRQ20 is required.
LRQ10 defines the purpose of the refinance.
Monetary amount
LRQ11 is the total amount of existing liens.
Monetary amount
LRQ12 is the total amount of debts paid by proceeds.
A free-form description to clarify the related data elements and their content
LRQ13 is the legislative reference of a government loan program.
A free-form description to clarify the related data elements and their content
LRQ14 is the name of the lender's program for this loan.
Code identifying the loan product category
If LRQ15 is "7 - Other Real Estate Loan Type," then LRQ16 is required.
A free-form description to clarify the related data elements and their content
Code identifying the nature of loan payment
If LRQ17 is "01 - Adjustable Rate Mortgage (ARM)" or "13 - Other Loan Payment Type," then LRQ18 is required.
A free-form description to clarify the related data elements and their content
A generic number
LRQ19 is the mortgage term expressed in months.
A free-form description to clarify the related data elements and their content
Specifies the situation or category to which the code applies
LRQ21 defines the current investor of the refinanced loan.
